Colorado Car Sales Practice Test 2026 - Free Car Sales Practice Questions and Study Guide

Question: 1 / 400

How many days does a dealer have to file federal form 8300 after receiving over $10,000 in cash?

10 days

15 days

The correct duration for filing federal form 8300 after a dealer receives over $10,000 in cash is 15 days. This requirement is part of the regulations aimed at preventing money laundering and other financial crimes. The form serves to report large cash transactions to the IRS, ensuring there is a clear trail of financial activity.

When a dealer accepts cash payments that exceed the threshold, timely reporting within 15 days is essential to remain compliant with federal regulations. This requirement underscores the importance of vigilance in financial transactions, especially in industries like car sales where large sums of cash can frequently be involved.

The other durations referenced in the choices do not align with the regulations established for cash reporting requirements, making 15 days the only correct timeframe.

Get further explanation with Examzify DeepDiveBeta

30 days

60 days

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy